证券研究报告 | 2025年08月27日 金融工程日报 A 股冲高回落，两市成交额再度放大至 3.2 万亿 市场表现：今日(20250827) 大部分指数处于下跌状态，规模指数中中证 500 指数表现较好，板块指数中科创 50 指数表现较好，风格指数中中证 500 成 长指数表现较好。通信、电子、有色金属、计算机、农林牧渔行业表现较好， 房地产、综合金融、纺织服装、综合、医药行业表现较差。光模块(CPO)、 稀土、光通信、稀土永磁、ETC 等概念表现较好，毫米波、稳定币、猴痘、 数字货币、多肽药等概念表现较差。 市场情绪：今日收盘时有 50 只股票涨停，有 16 只股票跌停。昨日涨停股票 今日收盘收益为 0.03%，昨日跌停股票今日收盘收益为-2.30%。今日封板率 44%，较前日下降 29%，连板率 15%，较前日下降 9%，封板率创近一个月 新低。 | 金融工程·数量化投资 | | --- | | 证券分析师：张欣慰 联系人：李子靖 | 021-60933159 021-60875177 zhangxinwei1@guosen.com.cn lizijing1@guosen.com.cn S0980520 ...

豪尔赛8月27日交易公开信息 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交8555.19万元，其中，买入成交额为 3189.85万元，卖出成交额为5365.35万元，合计净卖出2175.50万元。 具体来看，今日上榜的营业部中，共有5家机构专用席位现身，即买一、买三、卖一、卖二、卖三、卖 五，合计买入金额1796.96万元，卖出金额4753.83万元，合计净卖出2956.86万元。 资金流向方面，今日该股主力资金净流入627.96万元，其中，特大单净流入32.05万元，大单资金净流入 595.91万元。近5日主力资金净流入1579.41万元。（数据宝） 豪尔赛今日下跌6.43%，全天换手率12.22%，成交额1.94亿元，振幅16.35%。龙虎榜数据显示，机构净 卖出2956.86万元，营业部席位合计净买入781.37万元。 深交所公开信息显示，当日该股因日振幅值达16.35%上榜，机构专用席位净卖出2956.86万元。 | 买/卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- | | 买一 | 机构专用 | 841.65 | ...

证券之星消息，8月27日装修装饰板块较上一交易日下跌3.09%，豪尔赛领跌。当日上证指数报收于 3800.35，下跌1.76%。深证成指报收于12295.07，下跌1.43%。装修装饰板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002963 | 豪尔赛 | 13.10 | -6.43% | 13.96万 | 1.94亿 | | 601886 | 江河集团 | 7.93 | -5.93% | 23.11万 | 1.86亿 | | 002856 | 美芝股份 | 11.21 | -5.40% | 5.09万 | 5852.36万 | | 300621 | 维业股份 | 9.28 | -4.53% | 9.65万 | 9142.43万 | | 002830 | 名雕股份 | 17.49 | -4.43% | 6.48万 | 1.16亿 | | 300506 | ST各家汇 | 3.92 | -4.39% | 12.80万 | 5159.81万 | | 002713 | *ST ...

Core Viewpoint - The company, Haosai Technology Group Co., Ltd., is facing regulatory scrutiny due to allegations of bribery involving its controlling shareholder, Dai Baolin, who has been arrested. This has led to a significant decline in the company's financial performance and a change in its controlling shareholders [2][5]. Financial Performance - For the first half of 2025, the company reported total revenue of 158.06 million yuan, a decrease of 46.60% compared to the same period last year [7][8]. - The net profit attributable to shareholders was -33.71 million yuan, representing a decline of 538.56% year-on-year [7][8]. - The net cash flow from operating activities was -27.42 million yuan, a significant drop from 619.85 thousand yuan in the previous year [8]. Shareholding Structure - On July 29, 2025, Dai Baolin signed a voting rights entrustment agreement, transferring all voting rights of his 35,128,385 shares (23.36% of total shares) to Dai Congqi [5][6]. - Following this agreement, the controlling shareholders changed to Dai Congqi and Liu Qingmei, with Dai Baolin and others acting in concert with them [5][6]. Business Overview - The company's main business includes landscape lighting and new energy charging, with lighting services covering design, construction, sales, procurement, and operation [6]. - The company primarily serves government departments, large state-owned enterprises, and other clients, utilizing bidding and negotiation methods to secure contracts [6].

Group 1 - Jinhe Biological plans to establish a wholly-owned subsidiary with an investment of 10 million yuan to expand into the pet business, focusing on pet food and supplies, food additives, and medical research [1] - CNOOC Development intends to sell its cold energy business and assets to a related party for a total of 371 million yuan [1] - Shentong Express reported a revenue of 4.287 billion yuan in July, a year-on-year increase of 9.95% [2] Group 2 - Haosai received a warning letter from the Beijing Securities Regulatory Bureau due to suspected bribery involving its controlling shareholder [4] - Zhenyang Development is planning a major asset restructuring, leading to a temporary suspension of its stock [5] - Chitianhua's subsidiary will undergo a planned maintenance shutdown for 35 days, which will not affect the annual production targets [7] Group 3 - Aikang Pharmaceutical reported a net loss of 139 million yuan in the first half of the year, despite a revenue increase of 10.26% [8] - Zhaojin Gold achieved a net profit of 446.946 million yuan in the first half of the year, reversing a loss from the previous year [9] - CNOOC Development reported a net profit of 1.83 billion yuan in the first half of the year, a year-on-year increase of 13.15% [10] Group 4 - Hanchuan Intelligent reported a net profit of 22.935 million yuan in the first half of the year, compared to a loss in the same period last year [11] - Songyuan Safety's net profit increased by 30.85% year-on-year, with a revenue of 1.148 billion yuan [12] - Hengdian Film reported a net profit of 202 million yuan, a year-on-year increase of 128.61% [13] Group 5 - Ruoyu Chen's net profit increased by 85.6% year-on-year, with a revenue of 1.319 billion yuan [14] - Ruida Futures reported a net profit of 228 million yuan, a year-on-year increase of 66.49% [16] - Yangjie Technology's net profit increased by 41.55% year-on-year, with a revenue of 3.455 billion yuan [17] Group 6 - Yahua Group reported a net profit of 136 million yuan, a year-on-year increase of 32.87% [19] - Zhenyou Technology reported a net loss of 47.594 million yuan in the first half of the year [20] - Xinghui Co., Ltd. announced a share transfer agreement involving 6.99% of its shares [21] Group 7 - Shaanxi Natural Gas plans to transfer 13% of its shares through an agreement [23] - Zhenyou Technology received government subsidies totaling 6.0487 million yuan, accounting for 22.05% of its net profit [25] - Kema Technology plans to reduce its shareholding by up to 1.72% through a strategic employee placement plan [26]

Core Viewpoint - The company, Haosai, is navigating challenges in infrastructure and real estate investment while focusing on its "Smart+" strategy, emphasizing smart lighting and green energy for sustainable growth by mid-2025 [1][2]. Group 1: Business Strategy - Haosai has established a dual-driven strategy with "Three Smart One Network" and "Haonenghui New Energy," focusing on smart lighting, smart cultural tourism, and smart urban areas, leveraging digital technology to create a digital twin integration network platform [2][4]. - The company aims to enhance urban cultural connotations through innovative technology, continuously developing benchmark projects in the landscape lighting sector [2][6]. Group 2: Financial Performance - In the first half of 2025, Haosai reported revenue of 158 million yuan, with a significant decline in net profit compared to the same period last year [2]. - The company has invested 14.9765 million yuan in R&D during the reporting period, marking a 3.66% increase year-on-year [5]. Group 3: Project Highlights - Haosai successfully illuminated the "Most Beautiful Night Expo Garden" and showcased the "Most Beautiful Hometown" light show at the Beijing International Tourism Resort [3]. - The company has secured key lighting engineering projects, including the Jiangling River Road Engineering and the Tianjin Station Square landscape lighting project [3]. Group 4: New Energy Initiatives - Haonenghui New Energy, a wholly-owned subsidiary, is capitalizing on the "dual carbon" strategy by focusing on differentiated competition in the heavy-duty truck charging and swapping sector [4][5]. - The subsidiary has established strategic cooperation for new energy heavy truck charging and hydrogen stations, aiming to develop a low-carbon transportation system [4]. Group 5: Innovation and R&D - Haosai has a total of 180 patents and 72 copyrights, actively participating in the formulation of national standards, including four international standards [5]. - The company emphasizes collaborative research with universities and research institutions to enhance its R&D capabilities, which is seen as a core competitive advantage [5][6]. Group 6: Market Position and Future Outlook - As a leading player in the domestic landscape lighting sector, Haosai's strong technological innovation capabilities support its project undertakings [6]. - With the advancement of the "dual carbon" goals and the recovery of cultural tourism consumption, Haosai is expected to leverage its technological foundation and industry collaborations for value release in the next industrial cycle [6].

因实控人被捕、公司涉嫌单位行贿被立案"秘而不宣"，豪尔赛（002963）收到北京证监局警示函及深交 所监管函。 图片来源：公司公告 图片来源：公司公告 北京证监局在警示函直言，上述事项反映出豪尔赛在规范运作、公司治理、内部控制等方面存在缺陷； 对豪尔赛及相关人员采取出具警示函的行政监管措施，并计入证券期货市场诚信档案。 豪尔赛同日收到警示函与监管函 8月19日晚，豪尔赛公告披露，公司于近日收到北京证监局出具的《关于对豪尔赛科技集团股份有限公 司、戴宝林、戴聪棋、侯春辉、闻国平采取出具警示函行政监管措施的决定》。 警示函显示，因涉嫌单位行贿罪，豪尔赛控股股东、实控人戴宝林于2025年6月19日被公安机关执行逮 捕，公司因涉嫌单位行贿罪被监察机关立案调查。对于上述事项，豪尔赛未及时履行信息披露义务。 同日，豪尔赛亦因此收到深交所监管函，再次确认其"未及时履行信息披露义务"的违规事实。 图片来源：公司公告 北京证监局在警示函中指出，豪尔赛上述行为违反了《上市公司信息披露管理办法》以及《企业内部控 制基本规范》相关规定。戴宝林作为公司控股股东、实控人，戴聪棋作为公司现任董事长、总经理，侯 春辉作为公司董事、副总经理， ...

Core Points - The company Haosai (002963) received a warning letter from the Beijing Securities Regulatory Bureau due to issues related to information disclosure and internal control deficiencies [2] - The controlling shareholder and actual controller, Dai Baolin, was arrested on June 19, 2025, for suspected unit bribery, leading to an investigation against the company [2] - The company failed to timely disclose information regarding the investigation, violating multiple regulations related to information disclosure and internal control [2] Regulatory Actions - The Beijing Securities Regulatory Bureau issued a warning letter as an administrative regulatory measure against Haosai and its key executives, including Dai Baolin, Dai Congqi, Hou Chunhui, and Wen Guoping [2] - The actions taken are recorded in the integrity archives of the securities and futures market [2] - The violations include breaches of the "Management Measures for Information Disclosure of Listed Companies" and the "Basic Norms for Internal Control of Enterprises" [2]

证券代码：002963 证券简称：豪尔赛 公告编号：2025-042 豪尔赛科技集团股份有限公司 关于收到北京证监局警示函的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 豪尔赛科技集团股份有限公司（以下简称"公司"）于近日收到中国证券监 督管理委员会北京监管局（以下简称"北京证监局"）出具的《关于对豪尔赛科 技集团股份有限公司、戴宝林、戴聪棋、侯春辉、闻国平采取出具警示函行政监 管措施的决定》（[2025]150 号）（以下简称"《警示函》"），现将有关情况 公告如下： 一、《警示函》的内容 定，我局决定对你们采取出具警示函的行政监管措施，并计入证券期货市场诚信 档案。你们应当充分吸取教训，提高信息披露质量，采取有效措施避免再次发生 违法违规行为，并在收到本决定书之日起 30 日内向我局提交书面整改报告。 豪尔赛科技集团股份有限公司、戴宝林、戴聪棋、侯春辉、闻国平： 如果对本监督管理措施不服，可以在收到本决定书之日起 60 日内向中国证 券监督管理委员会提出行政复议申请，也可以在收到本决定书之日起 6 个月内向 有管辖权的人民法院提起诉讼。复议与诉讼期 ...

Financial Performance - In the first half of 2025, the company reported operating revenue of 158.06 million yuan, a decrease of 46.60% compared to the same period last year [1][2] - The net profit attributable to shareholders was -33.71 million yuan, a decline of 538.56% from a profit of 7.69 million yuan in the previous year [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -30.22 million yuan, down 227.59% from 23.69 million yuan in the same period last year [1][2] - The net cash flow from operating activities was -27.42 million yuan, compared to a positive cash flow of 619.85 thousand yuan in the previous year, representing a decrease of 4,524.29% [1][2] Historical Financial Data - From 2021 to 2024, the company's operating revenues were 788 million yuan, 407 million yuan, 538 million yuan, and 459 million yuan respectively [2] - The net profits attributable to shareholders for the same years were 13 million yuan, -156 million yuan, 18 million yuan, and -179 million yuan respectively [2] - The net profits after deducting non-recurring gains and losses were -10 million yuan, -169 million yuan, -46 million yuan, and -109 million yuan respectively [2] - The net cash flow from operating activities for the years 2021 to 2024 were 66 million yuan, -165 million yuan, 139 million yuan, and -99 million yuan respectively [2] Company Background - The company was listed on the Shenzhen Stock Exchange on October 28, 2019, with an initial public offering of 37.59 million shares at a price of 23.66 yuan per share [3] - The stock reached a peak price of 45.35 yuan on October 31, 2019, but has since been in a downward trend and is currently in a state of loss [3] - The total funds raised amounted to 889 million yuan, with a net amount of 801 million yuan after deducting issuance costs [3] - The funds were allocated for various projects, including 650 million yuan for operational capital, 55.52 million yuan for LED lighting R&D, and 42.01 million yuan for remote monitoring systems [3]